News

04/30/2018

Signature Optional! Visa continues improving the EMV Acceptance.

To continue the ongoing migration to EMV chip and to bring convenience along with increased security and speed to the point of sale, Visa is making the requirement to obtain and verify a cardholder signature optional for all EMV-enabled merchants in the U.S.1 and Canada, beginning 14 April 2018. At the same time, Visa is also removing the requirements for EMV-enabled merchants in the U.S. and Canada to keep transaction receipts and for acquirers to fulfill retrieval requestsmore >>

04/02/2018

NACM's 122nd Credit Congress and Expo

We are proud to be one of the sponsors of this conference. This expo 2018 showcases service providers representing diverse and unique companies from the United States and abroad. These companies unveil their products and services demonstrating how they may be essential resources to credit professionals in performing their daily responsibilities effectively and efficiently.more >>

03/20/2018

UTA's Credit Card Surcharging Guide

The subject of credit card surcharging has generated a great deal of interest and confusion in the payment industry. To help navigate you through some of the rules, UTA has answered many of the primary questions posed by its customers that have implemented surcharging.more >>

02/15/2018

Don't know what TLS is? Here's some information on a subject that may impact your processing environment.

A July 1 PCI Security Standards Council deadline is prompting payments providers to act well before then, with many establishing their own compliance deadlines in February. What has provoked this eagerness?more >>

01/22/2018

Mobile Deposit grew 35% in 2017

According to a software firm, in 2017 mobile remote deposit capture transactions jumped 35% over the previous year thanks to an increase in users.more >>

01/19/2018

Vantiv Acquires Worldpay

UTA is excited to announce that our partner, Vantiv, the largest credit card merchant acquirer in the U.S., has completed the acquisition of Worldpay Group plc, a leader in technology-led payment solutions. The combined company, named Worldpay, Inc., is now the #1 Global Merchant Acquirer, processing more than 40 billion transactions annually across 146 countries and 126 currencies.more >>

01/04/2018

The Year in Review: Remote deposit Capture 2017

2017 was an eventful year for the remote deposit capture industry. We had new regulations, introductions of new services and enhancements of current capabilities, industry reports from the Federal Reserve, to the evolving risk landscape and mass adoption of mobile RDC, this industry has continued to grow and evolve.more >>

12/22/2017

Visa says chip cards reduce counterfeit fraud by 66%

Visa, revealed on December 18th in an infographic that counterfeit fraud is down in the U.S at merchants that are using chip-enabled cards.more >>

12/20/2017

Digital Banking Consumers Demand Hyper Personalization.

Thirty three percent of consumers who abandoned a business relationship did so because they were looking for a personalize service.more >>

12/18/2017

What should we do to prevent these attacks? Well we need to consider several key technologies on the market, including the latest developments in payments solutions.more >>

12/15/2017

59% of Card Present transactions Use EMV Chip Technology.

The latest EMVCo data shows that the United States has the largest year over year increase, with 31.4% of transactions are EMV – enabled, compared to 7.2% in the same period the prior year.more >>

08/30/2017

The Reappearing Check: Why the decline of paper finally slowed

In 2015, we [Digital Check] made a bold prediction that flew in the face of conventional wisdom: After years of rapidly falling popularity, the paper check was about to experience a comeback – or at least, a leveling-off of its decades-long decline.more >>

08/11/2017

Why Can’t Americans Ditch Checks?

In an era of smartphones, online banking, and Venmo transfers, the rest of the world has weaned itself off paper.more >>

07/12/2017

Biometric Data At Risk In POS Malware Attacks

Another day, another fraud attack. But this one is unique because, at least at first, it was believed that consumer biometric data may have been compromised.

On July 4, U.S. vendor Avanti detected POS (point of sale) malware in some of its “micro market” kiosks. The company published a data incident notification at the end of last week, letting customers know about the breach.more >>

06/29/2017

With much of the payments business focused on mobile payments, merchants are making progress in dealing with the payment method but are still lagging in key areas, such as the ability to identify overseas transactions, according to survey results released Thursday.more >>

05/17/2017

Fraudulent Cashier's Checks Drawn on U.S. Century Bank, Miami, Florida

U.S. Century Bank, Florida has reported that fraudulent cashier’s checks are being produced and presented. Distinguishing features to the fraudulent checks are as follows:more >>

05/16/2017

Wannacry? Why It’s Time To Come Down On Bitcoin

The massive ‘Wannacry’ wave of crypto-ransomware cyberattacks now reported to have hit more than 200,000 computers in 150 countries shouldn’t be just another “look at how smart and cunning and horrible those cybercriminals are” headline.more >>

04/18/2017

RDC Growth Opportunities Abound

There is plenty of optimism about the future of remote deposit capture. Latest poll results point to triple-digit market growth.more >>

04/03/2017

Issuers Quick to Waive Credit-Card Fees

Competition is driving concessions that lenders are making on annual levies.more >>

03/17/2017

Our long-time partner, Vantiv, has been ranked the #1 US Merchant Acquirer by The Nilson Report

We are proud to announce that our long time credit card partner, Vantiv, has been ranked the #1 US Merchant Acquirer by The Nilson Report. Nilson is considered the most respected source of news and analysis of global card and mobile payment industries for over 46 years. The 2017 ranking shows that Vantiv now processes more domestic debit and credit card transactions than any other acquirer in the United States!more >>

12/01/2016

Credit Managers Should Scan for Risk from Indemnity Clauses

Suppliers and other players in construction are increasingly encountering indemnity provisions within contracts. It has become more important than ever for credit managers to carefully examine such documents to limit any potential associated risk to their companies.more >>

10/31/2016

Trick or Treat! Payment Urban Legends: Scary and True

Urban legends. They’re scary. And fun. And have just enough plausibility to make you wonder … are they true?more >>

10/26/2016

Are Connected Devices Threatening Payment Security?

Cybercriminals are looking at a new point of entry to cause major damage to both consumers and businesses — the Internet of Things. Michelle Tinsley, director of mobility and secure payments for Intel, joined Karen Webster to discuss why merchants shouldn’t underestimate the backdoor connected devices may leave open for hackersmore >>

09/26/2016

Digital Banking’s Delicate Dance

Dance
Consumers want digital banking apps to be secure, but they don’t want security to interfere with their digital banking experience. John Dancu, CEO of IDology, tells PYMNTS that finding that balance could be among the biggest challenges for banks looking to strengthen their digital/mobile solutions. Dancu shared his view on digital banking’s delicate dance between security and authentication in this month’s Digital Banking TrackerTM. Catch that, along with the latest rankings of 78 players that are dancing to that beat, and all the news from around the industry, of course.more >>

07/20/2016

Potential Canadian Payment Processing Disruptions

With the ongoing dispute between the Canadian Union of Postal Workers and the Canadian Postal Service, UTA is here to help in the case of any delays or disruption in your Canadian payment processing.more >>

06/09/2016

Visa Releases New Chip Card Numbers

Just how well is the chip card migration going?
Well, according to Visa: “The U.S. chip rollout is already having an impact on counterfeit fraud, the number one cause of in-store payment fraud today.”more >>

02/18/2016

Global Fraud Attack Index

Hackers are on the loose and coming to an online merchant near you. In droves. In fact, the rate of fraud attacks is up 163 percent from 2015 – and luxury retail is at the top of the fraudsters’ checklists. PYMNTS and Forter have teamed up to benchmark this very unique look at fraud and lay it all out in the premier edition of The Global Fraud Attack Index, a quarterly report. Find out where attacks are happening, to whom, what merchants can do to hold them at bay, and how much those attacks cost merchants last year.more >>

01/06/2016

Microsoft to Kill Support for Internet Explorer 8, 9, 10 on Jan. 12

Your options include upgrading to Internet Explorer 11, switching to a rival browser or shifting to Microsoft's Edge browser, which means jumping to Windows 10.more >>

11/24/2015

Making Commerce Creative

We know that consumers influence how merchants think about innovation – but who influences what those consumers fall in love with and want to use at those merchants? In the November issue of The PYMNTS Developer TrackerTM, powered by Vantiv, we highlight the many ways in which developers are helping merchants surprise, delight and enable the unique commerce opportunities that set merchants apart and drive consumer engagement.more >>

10/26/2015

Now That the Big Risk Shift Has Taken Place, Get Set for EMV Non-Compliance Fees

Now that merchant acquirers, and, by extension, merchants, are liable for certain kinds of fraud losses if the merchants aren’t prepared for EMV chip cards, acquirers are starting to put in place EMV non-compliance fees to cover their new risk exposure.more >>

10/06/2015

Infographic: The EMV and Mobile Payments Convergence

If there’s one thing that Apple Pay has shown the payments industry at large, it’s that security and convenience do not have to be diametrically opposed.more >>

09/29/2015

Poll Central: Check Destruction Timeframes Compressing

As RDC adoption continues to grow, a pattern is beginning to emerge whereby financial institutions are asking customers to destroy the paper from mobile deposits sooner rather than later. That’s a key finding from the latest poll of RemoteDepositCapture.com visitors.more >>

09/25/2015

Fighting Fraud While Expanding Access to Banking

Fraud can be a devastating blow to financial institutions. It’s not just the immediate financial losses that financial institutions need to be concerned about, however. The risk of damaged reputations is very real. Customers who get caught up in frauds are less likely to expand relationships with the involved financial institutions, which in turn can depress revenues. That’s why financial institutions cannot afford to let down their guard, even as new technologies and processes seemingly diminish opportunities for fraud.more >>

09/09/2015

As Traffic Heats up, the ACH Continues To Expand at 5%-Plus Rate

Transactions on the automated clearing house network grew 5.4% in the second quarter, the second straight period of 5%-plus expansion for the 40-year-old system, which reaches virtually every financial institution in the country. That’s according to numbers reported by NACHA, the organization that regulates the ACH.more >>

09/02/2015

Time’s (almost) up for US EMV Transition

With all the headlines swirling over the state of U.S. readiness to adopt EMV by the October deadline, it may seem like there’s plenty of time – or no time at all – to make the leap to the new technology. Depends on where you stand in the transition. For too many merchants, the time to adopt EMV is now.more >>

08/14/2015

HAPPY NATIONAL FINANCIAL AWARENESS DAY! Here is some info on how EMV can help your small business

Small businesses aren’t the only merchants that are ill-prepared to handle the move to EMV, but they may be the group that has the best “excuse.” Quite simply, SMBs (as the label implies) are small and resource-constrained. What time they have, they prioritize around the needs of their customers over everything else. It’s a perfectly reasonable rationale, but that fact alone — or that reality perhaps — doesn’t excuse small businesses from having to bear the responsibility in the event of fraud when Oct. 2015 rolls around.more >>

08/11/2015

Leveraging RDC Technologies: Mobile Imaging Isn’t Just for Checks

With more than 160 million Americans (about half the population) now using smart phones, mobile imaging has become a huge agent of change in financial services. Mobile check deposit may have been the first innovation to come from this, but it certainly is not the only one.more >>

07/24/2015

Tokenization, Misinformation, and the Benefits of Host Card Emulation

Tokens in their simplest form are a low-value representation of something with a higher value, says Doug Yeager, SimplyTapp chief executive.
I’m going to argue that an approach called host card emulation (HCE) is the safest and most efficient way for banks and merchants to deploy tokens. But first let me quickly review how tokenization works and what’s available in the market, and dispel some of that misinformation along the way.more >>

07/10/2015

Getting Merchants in the Know for EMV

What do merchants want? Knowledge. Specifically as it pertains to new products in the payments industry.

That’s what Neil Randel, CEO of First American Payment Systems, has found to be the case. His company works with merchants who have questions about a number of topics – from mobile payments, to point-of-sale systems, to Apple Pay and Android Pay.more >>

07/02/2015

UTA Interview with Advance Auto Parts

Tune in to a candid conversation held between United TranzAction’s President, Dean Middleton and Scott Senatore, of Advance Auto Parts (CarQuest) as they discuss how UTA was able to streamline and automate their payment acceptance and bank reconciliation processes.more >>

06/04/2015

Poll IDs Growing Value Proposition Around Mobile RDC

The adoption curve for mobile remote deposit capture has been unlike any other product innovation in modern banking. It also has the potential to be a money maker for banks and credit unions, based on a poll conducted by RemoteDepositCapture.com earlier this year.more >>

05/29/2015

Poll Central Shows RDC as Winning Proposition

Remote deposit capture is a winning proposition. The proof is in the numbers. Visitors to RemoteDepositCapture.com this month were asked to weigh in on whether the benefits of RDC outweigh the risks and costs. Eleven percent responded that the benefits “marginally” outweigh the risks and costs, while 87% said the benefits “far outweigh” the risks and costs associated with RDC. In other words, an overwhelming majority (98%) feel the benefits of RDC outweigh any associated risks.more >>

05/28/2015

Skipping Out on the EMV Deadline?

With the deadline for the EMV liability shift mandate looming ever closer, the simple fact is that a majority of U.S. merchants aren’t going to meet it. Whether that’s unintentional or deliberate, they will all face the same consequences. PYMNTS recently caught up with Chris Lee, President of North American Strategic Partnerships and Emerging Markets at Moneris Solutions, to get her perspective on what those consequences will be, why some businesses are willing to accept them, and how EMV is actually only one part of a much-needed overhaul of payments security.more >>

05/21/2015

2015 UTA/NACM Caribbean Cruise Winners

United Tranzactions would like to congratulate our random drawing winners...more >>

05/05/2015

Visa Gives Merchants Online EMV Adoption Toolkit

When it comes to EMV chip-enabled technology, getting merchants up to speed is the first step into making businesses EMV-compliant by the Oct. 1 deadline.more >>

04/27/2015

United TranzActions Signs Strategic Alliance with DadeSystems

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--United TranzActions, a leading payment solution provider, today announced that it has signed an agreement with Miami-based DadeSystems, a provider of next generation payment solutions. The agreement will further expand UTA's extensive payment processing offerings through the addition of DadePay AR Automation receivables management system and DadePay e-payments, the company’s electronic bill presentment and payment (EBPP) solution.more >>

04/22/2015

How Online Payments Are Helping the Environment

In this day and age, it’s important to always be on the look out for ways that we can help make the environment a cleaner, better place. And in recent years, finding ways to have a positive impact on the environment has been made much easier. One of those ways is by switching from paying bills in the traditional way of paper checks and envelopes to e-bills and online payments.more >>

04/20/2015

Hackers Hack Wire Transfer Network

Winter is coming for the organizations that make use of wire transfers.

According to IBM’s Security Intelligence division, a new threat to payments security has been discovered. Called “The Dyre Wolf,” the malware attack has already been used to transfer $1 million into the pockets of cybercriminals.more >>

04/14/2015

NACHA Stats Show Nearly 5% Growth for the ACH in 2014’s Holiday Quarter

All things considered, the holidays were kind to the ACH. Transactions on the automated clearing house network grew 4.7% in the final three months of 2014 compared to the fourth quarter of 2013, while dollar volume moved by the network climbed 4.9%, according to statistics from NACHA, the governing body for the ACH.more >>

04/09/2015

The PCI Council Publishes Tokenization Guidance and Looks Forward to EMV

With the U.S. payment card industry’s eyes glued on the coming of EMV chip cards, the main standards body for card security is trying to remind merchant acquirers, merchants, and card issuers that there is more to security than simply embedding a chip into a piece of plastic and deploying terminals that can read such cards. On Thursday, the PCI Security Standards Council published guidelines for products and services that provide tokenization—the replacement of primary account numbers (PANs) with so-called tokens that are useless to fraudsters.more >>

04/03/2015

Scanner Manufacturers Expand Lines to Meet Evolving Needs

Remote deposit capture (RDC) is revolutionizing the ways in which financial institutions and their customers handle checks. And that has device manufacturers rethinking strategies for addressing the changing needs of financial institutions and their customers.

“There’s still a huge market for scanners,” said Bill Buser, Director of Scanner Solutions at RDM Corporation. “But needs vary.” As do the machines these devices connect to (MACs as well as PCs and mobile devices), the operating systems that drive the machines, and the browsers that support web connectivity.more >>

03/30/2015

Consumer adoption of mobile banking is proceeding at a rapid clip, driven in part by gains in the number of consumers using their mobiles to make check deposits.

Consumers and Mobile Financial Services 2015, is the fourth annual report issued by the Federal Reserve Board examining how consumers use mobile devices to access accounts at federally-insured banks and credit unions. As of December 2014, 39% of adult Americans with mobile phones and bank accounts were using mobile banking products, up from 33% 12 months earlier, the Fed reported. What’s more, so-called “underbanked” adults are more likely to use mobile banking services than are “banked” Americans.more >>

03/25/2015

Stopping $6.4 Billion Worth of Post-EMV Fraud

By 2018, card fraud is expected to more than double, reaching $6.4 billion. As the U.S. migrates to EMV, CNP fraud in particular is expected to not shockingly spike with fraudsters turning to new channels. Tackling CNP fraud, however, is particularly tricky – the underlying secret, says Dr. Thomas Rand-Nash, Director of Operations at Brighterion, is to acknowledge that it will always occur, but just shifts and evolves. MPD CEO Karen Webster recently sat down with Rand-Nash in a live digital discussion to find out how behavioral analytics can mitigate fraud damage, predict and prevent fraud in real-time, and act as a crucial part of a multilayered CNP fraud approach.
The discussion kicked off with a brief intro by Julie Conroy, Aite Group Research Director, who provided industry context related to the migration of EMV in the U.S., and the subsequent rise of CNP fraud. Conroy indicated that many merchants and consumers still don’t know about EMV, which has stirred up a lot of chaos and confusion – something that fraudsters thrive on.more >>

03/16/2015

03/13/2015

According to a report put out by Verizon Communications, four-fifths of companies fail interim compliance assessments for payment card data security.more >>

03/02/2015

2015 Outlook of the RDC Industry

Mitek President and CEO James DeBello is bullish on mobile deposit, and he’s expecting a huge surge in
business adoption. “By the end of 2015 more than 50% of all financial institutions will offer mobile
deposit services tailored to the needs of business customers,” he predicted. Companies with mobile
workforces, will begin increasing adoption of solutions that “enable these workers to use smartphones
and tablets to quickly capture payment and business documents at the point of service,” DeBello said.more >>

02/26/2015

How One Integrated Payments Platform Enriches the Merchant POS

Datacap CEO Terry Zeigler says that enabling integrated payments for merchants through one platform isn’t just about giving developers access to SDKs and APIs – it’s about creating an ecosystem. Ziegler and team have been working to create an ecosystem where ISVs and merchants can access a broad set of technology and business tools to help them solve some of the key business challenges they face – that payments also touches. MPD CEO Karen Webster caught up with Ziegler to get the inside story on the role that Datacap’s dynamic platform and services play in achieving that mission.more >>

02/11/2015

Are YOU PCI-Compliant? A New Study Says More Than 30% of Big Merchants Are Not PCI-Compliant

If your concern is PCI Compliance, UTA will work with you to examine ways they can help minimize your risk and processing expenses and maximize your customer experience.

Fudging the numbers about their merchants’ compliance with the Payment Card Industry data-security standard (PCI) may be a common practice by merchant acquirers if findings from a new study about payment card data security are to be believed. The study by the Merchant Acquirers’ Committee, an association of more than 500 acquirers, independent sales organizations, risk managers and other acquiring-industry players, found that the rates of PCI compliance by the biggest merchants are far lower than the compliance rates reported by Visa Inc.more >>

02/05/2015

The Role of ACH in Driving Payments Innovation

Over the past 40 years, innovators of all shapes and sizes have used ACH to enable an array of payments opportunities. According to Jan Estep, President and CEO of NACHA, the ACH network has been in a state of continuous change to meet the needs of its end-users. Now, the ACH blueprint, she says, will set the course for the network in the future, as it serves as the “backbone” from which payments can grow. MPD CEO Karen Webster sat down with Estep and Jeff Thorness, CEO of Forte Payment Systems, to understand how ACH is being used today, the impact of same-day ACH on payments innovation, and how ACH measures up to next-gen schemes like Apple Pay.more >>

01/30/2015

The Complicated World of Integrated Software

From ISOs to ISVs, the players that put solutions packages together for merchants are learning that working together comes with costs and benefits. The trick is figuring out which outweighs the other.more >>

01/20/2015

Merchants battling debit card pricing and routing rules suffered another defeat on Tuesday. The U.S. Supreme Court rejected a petition from a merchant group seeking to have the high court hear its arguments against Federal Reserve rules regulating debit card interchange and transaction routing.more >>

01/13/2015

With EMV’s Liability Shift, Acquirers Face Consumer-Fraud Risk for the First Time

With a crucial deadline just 266 days away, the payments industry is starting to look at just what kind of fraud liability—and how much fraud—merchant acquirers will have to assume if their merchants aren’t ready to accept Europay-MasterCard-Visa (EMV) chip cards by October.more >>

01/08/2015

Traffic on the automated clearing house network continues to climb at a steady clip as financial institutions and other users of the system mull over a proposal to speed up payments from next-day to same-day settlement.more >>

12/29/2014

Google Sues Visa and MasterCard Over High Interchange Fees

Google hit Visa and MasterCard with a new lawsuit in federal court last week, accusing the payment card brands of violating federal antitrust law by charging “supracompetitive” interchange fees, Law360 reported.more >>

12/16/2014

The Road for Keeping U.S. Payments Secure

The U.S. Payments Security Task Force (PST) – a group of leading U.S. issuers, acquirers, merchants, payment networks and other electronic payment participants – has dared to go where no task force has ever gone before: to create a roadmap for protecting cardholder data at the merchant’s physical or virtual point of sale.more >>

12/15/2014

The Top 3 Payments Security Threats This Holiday Season

Nearly half of consumers said they would not shop over the holidays at retailers that experiences data breaches, according to a recent survey. Consumers still need reassurance from the retail world that these breaches won’t happen, says Ajay Bhalla, President, Enterprise Safety and Security at MasterCard. PYMNTS recently sat down with Bhalla to get his views on the increasing concern around security this holiday season, the top 3 threats to payments, and which newly designed tools will most efficiently thwart today’s advanced cyber-hackingmore >>

11/26/2014

Protecting Merchant POS Systems during the Holiday Season

UTA would like to share an advisory that was prepared in collaboration with the Financial Services Information Sharing and Analysis Center (FS-ISAC), the United States Secret Service (USSS), and the Retail Cyber Intelligence Sharing Center (R-CISC). It is directed towards retailers or companies who are processing financial transactions and managing customer personally identifiable information (PII) during the holiday season and beyond. This advisory serves to provide information on and recommends possible mitigations for common cyber exploitation tactics, techniques and procedures (TTPs) consistently and successfully leveraged by attackers in the past year.more >>

11/18/2014

Stay Alert During the Holidays

As the holiday season approaches and we start seeing a spike in sales volume, it’s important for your company to remain vigilant. An increase in sales always correlates with a surge in theft and fraudulent activity. UTA would like to remind our merchants to be mindful of the safety of their check writers’ and cardholders’ sensitive data.more >>

11/13/2014

Visa Dues & Assessments Scheduled to be Increased

As a public company operating in an expanding and increasingly competitive industry, Visa aims to accelerate the development of new products and markets and to invest in an infrastructure that allows system participants to grow their business. Visa periodically reviews its pricing to ensure that these objectives are supported and that the value proposition of Visa’s products and services is properly reflected.more >>

11/05/2014

The 3 Major Issues in B2B Payments

There are three issues to be addressed in B2B Payments, with regulatory issues being one of them. Different jurisdictions and governments have different rules and ways to view the flow of a payment, and companies need to deal with that. That is clear.
However, there are also technology changes to be addressed. In the B2B space, data matters. That data lives in back office information systems – in ERP, purchase-to-pay systems, order-to-cash systems, electronic invoicing systems, and more. There are all kinds of data that requires a deep understanding of and access to it.
The third issue is the business model. The business models in B2C are really straightforward, well-known and well-understood by the consumer. But in B2B, different supply chains have different rules and different business models.more >>

10/29/2014

Americans' Top Fear: Credit Card Data Getting Stolen

Fears are driven by an intersection of a horrible outcome and the perceived probability of it happening to that person. So when Gallup this month surveyed 1,017 U.S. adults in the U.S. and asked what their greatest fears were, having credit card data stolen by cyber-thieves was the top answer. By a lot.more >>

10/23/2014

UTA Welcomes Regional Sales Manager - Andre Baxter

UTA is pleased to announce the hiring of a payment industry sales veteran, Andre Baxter, as a Regional Sales Manager. With over 15 years of experience in the payment industry, Andre is a hard working professional with extensive experience in upper level sales, lead generation, account management, and customer retention.more >>

10/17/2014

UTA Prepares for EMV Migration

With a major deadline less than a year away, UTA is gearing up for the conversion of the payment industry to the Europay-MasterCard-Visa (EMV) chip card standard. The EMV standard is a development of Europay, MasterCard, and Visa to ensure global interoperability for chip-based payment transactions. An upgrade to the EMV enables more secure transactions across cards, contactless, mobile, and remote payment channels. Since its introduction in 1996, EMV has been implemented in many countries of the world.more >>

10/09/2014

Payments Industry Needs to Find Common Ground on Tokenization

Tokens, that is, tokens for securing electronic payments, almost became a household word two weeks ago when Apple Inc. introduced Apple Pay, a mobile-payments service that will rely heavily on tokens when it launches next month. The concept of tokenization, however, has been around for quite some time in the payments industry. Now a public-private group concerned with advancing mobile payments says industry players need to agree on standards and coordinate several different tokenization solutions floating around the industry.more >>

10/06/2014

UTA Achieves SSAE 16 Audit Certification for 2014

United Tranzactions (UTA) is pleased to announce that an independent audit has been completed for the Statement on Standards for Attestation Engagements (SSAE) No. 16. The evaluation included a full assessment of Operations, Customer Service, Information Technology organization, and Risk Assessment monitoring. “The SSAE 16 compliance designation affirms UTA’s continued commitment to provide excellence in service levels while operating at the highest industry and regulatory standards” Dean Middleton, President of United Tranzactions, said in a statement.more >>

08/11/2014

Federal Reserve Payment Study: Checks remain a critical component of the payment system

Americans may be using checks less often these days, but with 21.1 billion written in 2012, checks remain a critical component of the payment system. Checks also are significantly less prone to fraud than other methods of payment, according to the 2013 Federal Reserve Payment Study. One reason for this may be image exchange and RDC, as the Fed said nearly all checks are now cleared electronically.more >>

05/01/2014

UnitedTranzActions and NACM Connect Celebrate 15 Years as Partners by Collaborating with a Member on a New Payment Vehicle

It started 15 years ago, and it’s going strong. It started small, and now it’s one of the most important vendor partnerships we have. It started with check guarantee, and now the sky is the limit. If it involves moving money, UTA can help.
At the NACM Midwest Credit Conference last October, Elizabeth Chamorro and Cheri Cohn of Yaskawa America Inc. began a conversation with Dean Middleton of UTA regarding the possibility of their Canadian subsidiary using UTA’s ACH services.more >>

07/03/2013

UTA Achieves SSAE 16 Audit Certification

June 2013 – United Tranzactions (UTA) is pleased to announce that an independent audit has been completed for the Statement on Standards for Attestation Engagements (SSAE) No. 16. The evaluation included a full assessment of Operations, Customer Service, Information Technology organization, and Risk Assessment monitoring.more >>

02/01/2013

ACH Volume Increases 5.9 Percent in 4th Quarter 2012

The Automated Clearing House Network grew by 5.9 percent in the 4th Quarter of 2012 compared to a year ago, according to NACHA statistics.more >>

11/01/2012

United TranzActions Certifies with CenPOS

UTA announced today its certification of CenPOS, a payment technology provider, to support Remote Deposit Capture (Check21), Check Guarantee, ACH, and Check Conversion through the CenPOS interface. The certification is for both scanned and manually entered checks. Merchants utilizing the CenPOS payment-processing platform will be able to take advantage of UTA's payment processing and check guarantee services.more >>

10/30/2012

EMV Goes Global: The End of an Era for the Magnetic Stripe Payment Card

Europe has nearly completed its migration to EMV payment technology. Over the last year, key payment systems have announced plans to accelerate and drive the adoption of EMV within the United States (U.S.) marketplace. This demonstrates a significant step forward in achieving a global EMV framework.more >>

09/17/2012

NFC Mobile Payments Update

Just off the announcement that Apple didn't include the technology in its new iPhone, Isis, the NFC mobile payment joint venture between AT&T Mobility, Verizon Wireless and T-Mobile USA, has admitted that its long-awaited mobile payment product will be delayedmore >>

07/16/2012

Credit Card Purchases May Soon Carry a Surcharge

VISA and MASTERCARD have agreed in a settlement of a long-standing court battle to allow merchants to SURCHARGE customers for interchange fees. Call them "swipe fees," "checkout fees," or "surcharges," consumers may have to deal with a new expense at the register if they pay with a credit card, thanks to a $7.25 billion settlement reached Friday. The settlement, which is pending court approval, may come to fruition in late 2012 or early 2013.more >>

07/05/2012

How Check 21 saved the U.S. Payments System over $3 Billion in 2010.

A recent paper released by the Federal Reserve Bank of Philadelphia estimatesmore >>

06/26/2012

2012 UTA/NACM Caribbean Cruise Winners.

United Tranzactions would like to congratulate our random drawing winners...more >>

06/01/2012

New Email Phishing Scam Using Visa Business News Format

Visa would like to alert clients to the latest phishing email scam which purports to come from Visa.more >>

05/01/2012

New and Improved electronicpayments.org Site to Launch in Support of Direct Deposit and Direct Payment via ACH Month, Celebrated in May

NACHA Launches Updated Website Designed to Educate Financial Institutions, Businesses and Consumers on the Benefits of Electronic Paymentsmore >>

04/16/2012

ACH Payment Volume Exceeds 20.2 Billion in 2011 Largest Originators and Receivers of ACH Payments Named for 2011

06/27/2010

Paymetric, Inc., the leading provider of integrated and secure enterprise payment acceptance solutions, today announced it has partnered with United TranzActions, LLC (UTA) to offer Paymetric clients...more >>

05/03/2010

National Check Trust, Inc. and American Check Management, Inc. two Leading Payment processing and Check Guarantee Companies announce merger to create one of the largest one stop solutions in the financial services market.more >>